Capital Research Global Investors Sells 163,428 Shares of Home BancShares, Inc. $HOMB

Capital Research Global Investors trimmed its position in shares of Home BancShares, Inc. (NYSE:HOMB) by 3.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 5,349,719 shares of the financial services provider’s stock after selling 163,428 shares during the period. Capital Research Global Investors’ holdings in Home BancShares were worth $151,397,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of HOMB. Dimensional Fund Advisors LP raised its position in shares of Home BancShares by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,957,496 shares of the financial services provider’s stock valued at $168,597,000 after buying an additional 45,848 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Home BancShares by 14.7% during the 2nd quarter. American Century Companies Inc. now owns 4,876,022 shares of the financial services provider’s stock worth $138,772,000 after acquiring an additional 626,655 shares during the period. Geode Capital Management LLC boosted its position in shares of Home BancShares by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 4,572,656 shares of the financial services provider’s stock worth $130,151,000 after acquiring an additional 26,511 shares in the last quarter. Norges Bank bought a new position in Home BancShares in the second quarter valued at approximately $64,545,000. Finally, First Trust Advisors LP increased its stake in Home BancShares by 52.5% in the third quarter. First Trust Advisors LP now owns 2,230,065 shares of the financial services provider’s stock valued at $63,111,000 after acquiring an additional 767,844 shares during the last quarter. 67.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Cantor Fitzgerald cut their target price on Home BancShares from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Wall Street Zen upgraded Home BancShares from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Royal Bank Of Canada set a $31.00 price target on Home BancShares in a report on Monday, January 12th. Piper Sandler restated an “overweight” rating and set a $35.00 price objective (up from $34.00) on shares of Home BancShares in a research report on Friday, January 16th. Finally, Zacks Research raised Home BancShares from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 19th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Home BancShares currently has a consensus rating of “Moderate Buy” and an average target price of $32.40.

Insiders Place Their Bets

In other Home BancShares news, Director John W. Allison II sold 5,000 shares of the company’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $28.19, for a total value of $140,950.00. Following the completion of the transaction, the director owned 651,995 shares of the company’s stock, valued at $18,379,739.05. This represents a 0.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Donna Townsell sold 5,563 shares of the stock in a transaction dated Wednesday, January 28th. The shares were sold at an average price of $28.38, for a total value of $157,877.94. Following the completion of the transaction, the director owned 218,460 shares of the company’s stock, valued at $6,199,894.80. This represents a 2.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 6.39% of the company’s stock.

Home BancShares Price Performance

Shares of NYSE:HOMB opened at $26.32 on Thursday. Home BancShares, Inc. has a one year low of $24.22 and a one year high of $30.83. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 10.92 and a beta of 0.78. The firm has a 50 day simple moving average of $28.67 and a 200 day simple moving average of $28.37.

Home BancShares (NYSE:HOMB) last posted its earnings results on Wednesday, January 14th. The financial services provider reported $0.60 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.60. The firm had revenue of $269.25 million for the quarter, compared to analysts’ expectations of $272.48 million. Home BancShares had a net margin of 32.18% and a return on equity of 11.16%. The company’s revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Research analysts predict that Home BancShares, Inc. will post 2.19 earnings per share for the current fiscal year.

Home BancShares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th were given a dividend of $0.21 per share. The ex-dividend date was Wednesday, February 11th. This represents a $0.84 dividend on an annualized basis and a yield of 3.2%. Home BancShares’s payout ratio is currently 34.85%.

Home BancShares Profile

Home BancShares, Inc is a bank holding company based in Conway, Arkansas, operating through its primary subsidiary, Home Bank, National Association. Founded in March 1999, the company provides a comprehensive suite of banking services to individuals, small and middle-market businesses, and public entities. These services encompass deposit accounts, consumer and commercial lending, mortgage origination and servicing, treasury management, and wealth management solutions.

The company’s core products include checking and savings accounts, certificates of deposit, and money market accounts, as well as a variety of loan offerings such as commercial real estate financing, equipment loans, agricultural lending, and residential mortgages.